Daily Pivots: (S1) 1.7923; (P) 1.8174; (R1) 1.8467; More…
A temporary top is formed at 1.8417 with current retreat and intraday bias in EUR/AUD is turned neutral. Downside of consolidations should be contained above 1.7417 resistance turned support. Above 1.8417 will resume larger up trend to 161.8% projection of 1.6355 to 1.7417 from 1.7047 at 1.8765 next.
In the bigger picture, up trend from 1.4281 (2022 low) is in progress, and in reacceleration phase as seen in W MACD. Next target is 100% projection of 1.4281 to 1.7062 from 1.5963 at 1.8744. Outlook will remain bullish as long as 1.7062 resistance turned support holds (2023 high) even in case of deep pullback.
